FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Aug. 31, 2014

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis as of August 31, 2014 and May 31, 2014. As required by ASC 820, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	August 31, 2014
	(unaudited)
	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Liabilities:
Contingent consideration	$	—	$	—	$	2,179	$	2,179
Euro denominated long-term debt		—		1,826		—		1,826
Total liabilities	$	—	$	1,826	$	2,179	$	4,005

	May 31, 2014
	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Liabilities:
Contingent consideration	$	—	$	—	$	2,015	$	2,015
Euro denominated long-term debt		—		1,229		—		1,229
Total liabilities	$	—	$	1,229	$	2,015	$	3,244

Summary of Changes in Fair Value of Level 3 Contingent Consideration

The following table represents the changes in the fair value of Level 3 contingent consideration (in thousands):

	Three Months Ended August 31, 2014
	(unaudited)
Balance at May 31, 2014	$	2,015
Accretion of liability		40
Acquisitions		124
Balance at August 31, 2014	$	2,179